adamski
7 months ago
https://www.allpennystocks.com/spotlight/1104/metawells-oil-gas-inc?
The world's thirst for energy remains strong, but traditional extraction methods have reached their limits. Enhanced oil and gas recovery (EOR) techniques offer a compelling solution. By employing innovative technologies, EOR unlocks additional resources from existing wells, extending production lifespans and boosts energy security, all while making sound business sense for oil and gas companies and investors.
And when done right, like with cutting-edge refining units, it is possible to slash methane emissions that are a leading cause of global warming.
Where to Start
There is no shortage of opportunities to coax more oil and gas out of a well. Across the U.S, there are an estimated 2-3 million abandoned oil and gas wells. Over 117,000 of these, scattered across 27 states, are "orphaned," meaning they're uncapped, unproductive, and have no identifiable owner to manage leakage or pollution risks.
According to Global Oil & Gas Recovery Corp., some wells are, amazingly, left with as much as 80% of the resource left in the ground. Usually, a well is abandoned when it is determined that the cost of extraction exceeds the price of the sale. So, when oil prices drop, so do operating well counts.
In 2019, the U.S. became a net exporter of energy for the first time in half a century. However, the U.S. remains one of the largest importers of crude oil in the world, which has proponents of energy independence arguing for more domestic production to meet global demand. The problem is that oil production is declining in the U.S., not increasing.
As shown by the EIA, the number of producing wells in the U.S. reached a high of 1,031,256 wells in 2014, then dropped to 919,246 wells in 2021 and then 912,962 in 2022. There are another 100,000 opportunities.
Making Money, Fixing Problems
On April 22, a quiet and mostly overlooked company, Metawells Oil & Gas Inc. (OTCPK: KOSK), a holding company in search of collaborations, released an important piece of news. The company said it inked a letter of intent to merge with Global Oil & Gas Recovery Corp. (GLOBAL), a takeover that will make GLOBAL a public entity.
The principals and the management team has been involved in the Capital Markets, Petroleum and Natural Gas extraction industry for over 25 years.
GLOBAL will capture and enhance the oil and gas reserves that were previously discovered but not fully extracted, alleviating production declines, through the deployment of enhanced secondary oil and methane gas recovery (EOMR) methods in the U.S. and Canada.
Further – and this is huge hidden value add – GLOBAL employs new technology that limits the environmental impact from methane release like the Mobile Refining Unit (MRU) developed and patented by PEnG.
Secondary Recovery is Primary Money Maker
Founded in 2023, GLOBAL is focused on deploying its EOMR technology in abandon oil and gas wells located in the oil-rich regions of Kansas, Colorado, Oklahoma, Missouri, New Mexico, Texas, Arkansas, and Louisiana. Its technology can enhance and increase production at a fraction of the cost of fully developed fields providing excellent return on investment.
There are three distinct phases of recovery standard to oil and gas production in North America. Primary extraction uses the natural pressure of the reservoir to bring resources to surface. Tertiary is where gas (usually carbon dioxide) or heat (steam or hot water) is used to stimulate oil and gas flow. Secondary implements other mechanisms, including gas re-injection and water flooding to further produce the remaining oil and gas after primary and tertiary techniques are no longer economically viable.
The is where GLOBAL has expertise.
Helping Climate Change; Cha-PEnG!
PEnG has developed the Mobile Refining Unit (MRU), a new green technology that captures leaking methane gas and converts it into usable fuel. This technology addresses the leaking abandon wells, sometimes called “zombie wells,” that are a major problem around the world. This technology is currently in development and could be ready for production in 2024.
PEnG has consulted dozens of start-ups and multinational corporations, including Total, Arkema, ExxonMobil (NYSE: XOM), Johnson-Matthey (OTC: JMPLY) (LSE: JMAT), Velan (TSX: VLN), Lavergne Group, Haldor-Topsoe, and more. PEnG's founder has worked for DuPont (NYSE: DD) in the United States, Spain, and Switzerland. In the U.S., he managed a laboratory to qualify 200,000 kilograms of catalyst for the commercial plant design, operations and technology marketing development. In short, he is highly experienced and successful in the gas-to-liquids process and has all the elements undergirding catalysis manufacturing, reactor design, operations, and scalability.
In 2023, PEnG and GLOBAL teamed up to address the flaring and abandoned oil and gas wells available in the U.S. and Canada.
Our Methane Problem
Methane is a powerful greenhouse gas responsible for around 30% of the rise in global temperatures since the Industrial Revolution; it is the second largest contributor to global warming after CO2. More than half of global emissions stem from human activities in three sectors: agriculture, waste and fossil fuels.
In the oil and gas industry, flaring occurs when excess methane gas is burned off at well sites rather than captured and used. Oil and gas companies flare more than $10.6 billion in natural resources every year. This practice, though sometimes necessary for safety reasons, wastes a valuable resource and contributes to climate change, arguably even more so than CO2 because it breaks down in the atmosphere faster.
GLOBAL and PEnG have an award-winning solution to help curb the pollution of methane that tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment. Last year, the group relocated the MRU pilot plant out of the lab and on to a trailer for oil field upgrades.
It is believed that the MRU can overcome all obstacles oil and gas companies face with CAPEX and OPEX that has held back this type of much-needed technology from becoming mainstream. Amongst other things, the MRU technology applies a catalytic partial oxidation step in a milli-second reactor that costs a fraction of steam methane reforming technology today.
The Revenue Estimates
Management estimates that it can produce the MRU for approximately $300,000 and sell it for $500,000 - $1 million, which should, conservatively, earn the oil and gas company customer a ROI of just 12-18 months and profits going beyond that (not to mention greener operations). The company estimates selling 60 units per year initially while expanding a constructing a factory capable of producing one unit per day.
The strategy also includes renting and partnering to get the MRUs integrated into operations. According to GLOBAL, “Rather than selling units, some junior oil companies have offered to share the production” if they can show production capabilities for shut-in wells.
If the unit can bring a marginal well back online and produce just 5 barrels per day of oil and 100 MCF (thousand cubic feet per day) of natural gas, the total revenues would be close to $500,000 per year. The orphan inventory Alberta stood at 8,000 wells several years ago. Assuming that 1,000 have this minimal capacity, total revenues would be $50 million annually to be split.
As far as renting, there is a compelling scenario in Canada where oil rigs are allowed to flare gas for 72 hours during well completion to evaluate the oil/gas in-place. Sometimes this is not enough time. Since the MRU is mobile, GLOBAL can bring the unit to the well head and convert the natural gas to diesel, which give reservoir engineers more data to estimate the productivity. There are about 750 oil rigs operating in Alberta alone. Assuming 200 rigs rent the MRU for 100 days per year, revenues work out to $3,000 a day, or $30 million per year.
Sometimes a short press release seems very unassuming, but in the case of Metawells and GLOBAL a closer look reveals a whole lot more.
ProfitScout
1 year ago
$KOSK News: One Step Vending Corp., Company Updates on Metawells Oil & Gas Inc.
HARRISON, NY, Sept. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - One Step Vending Corp. (OTCPink: KOSK) announces that the Company has currently effectuated the name change from One Step Vending Corp. to Metawells Oil & Gas Inc. with the State of Nevada and is in process of submitting the documentation to FINRA for final processing.
The new name, Metawells Oil & Gas Inc., reflects, in the best way, the Company's new business direction to one of the strongest and most profitable industries of energy and fuels that will bring value to the Company and its shareholders. Metawells has strategized the acquisitions of vertically integrated assets in the oil sector. The Company is currently working on the legal parts of the upcoming acquisitions and production plan.
In other updates, the Company confirms that, as of today, the total issued & outstanding common Stock is 541,118,750 from which 358,941,596 shares are restricted and 182,177,154 are unrestricted and the Company considers those as the Company's float. There was an increase in the outstanding common stock due to shares issued based on previous period debt. These shares will remain restricted as they constitute controlling equity in the Company. The debt will be erased on the Company's books and will reflect in the next financial report.
There will be more updates coming soon with information for the upcoming developments in the Company. The updates will be released either through Twitter/X or by press releases depending on the volume of information.
The Company is currently setting up a new Twitter/X account and shareholders will be prompted to follow the new account as soon as it is announced.
About One Step Vending, Corporation (KOSK)
One Step Vending Corp. is a holding company focused on the acquisition of market-changing and disruptive business models. The Company supports subsidiaries with key financial, sales, marketing, and operational changes designed to accelerate growth and shareholder value.
For more information visit http://www.onestepvending.com
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange including words such as anticipate, if, believe, plan, estimate, expect, intend, may, could, should, will and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company's control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company's revenues, financial condition or stock price.
Company Contact:
Ronald Minsky, President
600 Mamaroneck Ave.,
Harrison, NY 10528
info@onestepvending.com
212.381.8029 Office
ProfitScout
1 year ago
KOSK News: One Step Vending Corp. Announces Filing for the Company Name Change with the State of Nevada
HARRISON, NY, Sept. 21, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – One Step Vending Corp. (OTC Pink: KOSK) announces that it filed an amendment to its Articles of Incorporation with the State of Nevada in order to change the name of the Company.
The new name of the Company will be changed from One Step Vending Corp. to Metawells Oil & Gas Inc. There will be no changes to the Company’s ticker. The next step includes filings with FINRA and the Company’s Transfer Agent in order to complete the name change. Also, a new website is currently on the way to reflect the Company’s upcoming changes.
More information on the name changes and Company developments will be released soon.
About One Step Vending, Corporation (KOSK)
One Step Vending Corp. is a holding company focused on the acquisition of market-changing and disruptive business models. The Company supports subsidiaries with key financial, sales, marketing, and operational changes designed to accelerate growth and shareholder value.
For more information visit:http://www.onestepvending.com
SAFE HARBOR ACT:Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange including words such as anticipate, if, believe, plan, estimate, expect, intend, may, could, should, will and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Ronald Minsky, President
600 Mamaroneck Ave.,
Harrison, NY 10528
info@onestepvending.com
212.381.8029 Office
ProfitScout
1 year ago
$KOSK News: One Step Vending Corp. Announces Change of Business Sector to Gas and Oil
HARRISON, NY, Aug. 29, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - One Step Vending Corp. (OTCPink: KOSK) a company specializing in emerging industries acquisitions, announces that it is moving forward with the change of its current business model to the business sector of Gas and Oil.
After a long time of research of different business models in various sectors and industries and subsequent due diligence, the Company's management is currently forging strategic agreements with long-time businesses in the Gas and Oil industry that will be acquired in the process of the change of industry and the general direction of the Company.
The Company will release information weekly, based on the developments in the process of the upcoming changes.
About One Step Vending, Corporation (KOSK)
One Step Vending Corp. is a holding company focused on the acquisition of market-changing and disruptive business models. The Company supports subsidiaries with key financial, sales, marketing, and operational changes designed to accelerate growth and shareholder value.
For more information visit: http://www.onestepvending.com
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Companys expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange including words such as anticipate, if, believe, plan, estimate, expect, intend, may, could, should, will and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company's control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company's revenues, financial condition or stock price.
Company Contact:
Ronald Minsky, President
600 Mamaroneck Ave.,
Harrison, NY 10528
info@onestepvending.com
212.381.8029 Office
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